U.S. Steel Corp. X reported a softer 2Q due to maintenance expenses and higher than expected costs of its flat-rolled steel business, according to Dahlman Rose and U.S. Steel Corp. management.
EPS is at $0.45 vs. Dahlman's estimate of $0.55, and Dahlman has lowered the price target to $61 from $80. Dahlman does maintain its "buy" rating, however.
Regeneration is expected in the coming months, with steel prices and mill utilization trending higher, Dahlman believes U.S. Steel is well positioned to benefit.
U.S. Steel Corp closed yesterday at $44.69.
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in